Life Insurance Assignments definition

Life Insurance Assignments means, collectively, any assignment, collateral assignment, agreement, instrument, and/or document reasonably acceptable to the Administrative Agent pursuant to which the Administrative Agent has been granted a Lien on the rights of a Borrower under any Life Insurance Policy.

Life Insurance Assignments means, collectively, each assignment of the Life Insurance in favor of Lender pursuant to an assignment thereof duly executed and delivered by K&B, all on terms, in a form and in substance reasonably satisfactory to Lender.

Life Insurance Assignments means an Assignments of Life Insurance Policies as Collateral to be executed by the owner and the beneficiary thereof, in form and substance satisfactory to the Lender, granting the Lender a first priority lien on the Life Insurance Policy to secure payment of the Obligations.

Examples of Life Insurance Assignments in a sentence

• The Borrower and the Guarantors each hereby warrant and represent to the Lender that each and all of the representations and warranties set forth and contained in the Credit Agreement, the Guaranty, the First Life Insurance Assignment, the Second Life Insurance Assignment, the Third Life Insurance Assignment, the Guarantor Life Insurance Assignments, and the documents and agreements related hereto or thereto are true, correct and complete in all respects as of the date hereof.

• Borrowers shall have executed in favor of Agent, for itself and the ratable benefit of the Lenders, assignments, in form and substance satisfactory to Agent, with respect to the Life Insurance Policies (collectively, the "Life Insurance Assignments").

• The Borrower shall promptly notify the Bank as soon as the Borrower is no longer prohibited by regulatory authorities from assigning to the Bank policies 0574-5222 and 5743-891 now issued by Confederation Life Insurance Company, and shall thereupon execute and deliver (or cause to be executed and delivered) to the Bank Life Insurance Assignments (as hereinafter defined) with respect thereto.

• The Security Agreements, the Mortgage, the Collateral Assignment of Leases, Rentals and Property Income, the Patent Assignments, the Trademark Assignments, the Merocel Stock Pledge Agreement, the Stock Pledge Agreement, the Note Pledge Agreements, the Life Insurance Assignments, the Subsidiary Stock Pledge Agreements and the Subsidiary Guaranties.

• The right to receive the proceeds of the Life Insurance Policies shall be assigned to the Lender by the Life Insurance Assignments.

More Definitions of Life Insurance Assignments

Life Insurance Assignments means, collectively, (a) that certain Assignment of Life Insurance Policy as Collateral dated as of June 22, 2015 by Parent in favor of Agent with respect to the Eligible Life Insurance Policies in effect as of the Third Amendment Effective Date, and (b) any other agreements, instruments and documents reasonably acceptable to Agent pursuant to which Agent has been granted a Lien on the rights of a US Loan Party under any Eligible Life Insurance Policy.

Life Insurance Assignments means the collateral assignments to the Bank of (i) a certain policy of insurance on the life of Xxxxxx X. Xxxxx in the face amount of $1,000,000, and (ii) a certain policy of insurance on the life of Xxxxx X. Xxxxxx in the face amount of $1,000,000.

Life Insurance Assignments means each Assignment of Life Insurance Policy, made by Ridgeview in favor of the Agent, consented to by the named insured and acknowledged by the issuer thereof.

Life Insurance Assignments means the assignments by the Company of life insurance policies on the life of RMF to Brunswick, relating to policy numbers 00-000-000 and 00-000-000 issued by the Northwestern Mutual Life Insurance Company.

Life Insurance Assignments. The Assignments of Life Insurance Policy as Collateral with respect to the life insurance policies on the lives of Xxxxx Xxxxx and Xxxxx Xxxxxx from the Borrower in favor of the Agent for the benefit of itself and the Lenders, and the related life insurance questionnaire, as amended, restated, supplemented or otherwise modified.

Life Insurance Assignments means, collectively, (i) the Assignment of Policy as Collateral Security, signed November 30, 2001, by Borrower in favor of Wisconsin Business Bank with respect to Transamerica Occidental Life Insurance Company ("Transamerica") policy number 41974199 on the life of William H. Peters in the face axxxxx xx $500,000, (ii) the Assignment of Policy as Collateral Security, signed January 8, 2002, by Borrower in favor of Wisconsin Business Bank with respect to Transamerica policy number 41976461 on the life of Michael J. Bekes in thx xxxx xxxxxx xx $000,000, and (iii) the Assignment of Policy as Collateral Security, signed April 16, 2002, by Borrower in favor of Wisconsin Business Bank with respect to Transamerica policy number 42002782 on the life of Robert A. Olah in the face amouxx xx $2,000,000."

Life Insurance Assignments means, individually and collectively, as the context shall require, each Collateral Assignment of Life Insurance executed and delivered by the Borrower pursuant to Section 5.25(c) in favor of the Collateral Agent, for the ratable benefit of the Secured Parties, to secure the Secured Obligations, each in substantially the form of Exhibit R.